以下文章来源于混沌学园 ，作者混沌学园 混沌学园 . 学创新，就在混沌！ 本文整理自李丰在混沌学园的2026开年课程，来自微信公众号： 混沌学园 ，作者：李丰，原文标 题：《李丰：2026，关于赚钱、AI与竞争逻辑，我的展望和预判》，题图来自：AI生成 关于AI下半场：所有技术周期都有上半场和下半场。上半场美国领先技术，但下半场，中国更有优 势。而每一个技术浪潮到了后半场，中国往往开始追赶并反超。 关于中国AI机遇：AI+硬件将成为中国的战略机遇，当"软件+硬件"成为中国极为擅长的组合拳，我 们能够利用中国制造业"卷"出来的供应链优势，实现产业转换与升级。 关于终极竞争：中美AI竞争里，中国正握住另一张底牌，数据。十年之后，大国竞争的终局将聚焦 于两件事：能源和数据。谁在这两个问题上有更确定性和长期的优势，谁就有可能赢。 以下为演讲内容： 感谢混沌的邀请，让我每年有一次机会来跟大家分享。我每年也以此为契机，试图从我们的角度来探 讨：这个世界和我们身处的中国，为什么发展到了今天这个样子？为什么你周围的状况，和你切身的 体验是现在这般模样？ 今天我们先讨论一下最近非常热的话题，也是中美竞争的焦点，其核心主要在于： ...

以下文章来源于果壳 ，作者黎小球 果壳 . 科学和技术，是我们和这个世界对话所用的语言。 本文来自微信公众号： 果壳 ，作者：黎小球，编辑：Odette 中国人的尿酸水平在快速升高。 一项纳入了200多万人的研究显示，从2001年到2017年，中国大陆15岁以上人群高尿酸血症 （HUA）的患病率从8.5%攀升到了18.4%，翻了一倍多，华南更是"重灾区"。 很长一段时间内，人们只知道长期尿酸高，痛风和肾结石的风险会增加。但随着医学研究的不断深 入，尿酸升高与其他慢性病的关联开始浮现。 这是一个重要的公共卫生问题。中国人的尿酸为什么越来越高了？又是什么造成了地区差异？我们试 图揭开这个问题的一角。 中国高尿酸地图 大多数高尿酸血症患者没有症状，得知自己尿酸升高，常源于一张体检单。在人们模糊的印象中，近 些年来查出尿酸升高的人越来越多。 这并不是错觉。2021年发布的一项研究中，研究者分析了177项研究、200多万人的数据，发现2001 年时，中国大陆15岁以上人群高尿酸血症的患病率还在8.5%，到了2017年，数值攀升到了18.4%， 不到二十年翻了一倍多。 2022年发布的另一项全国性调查也得出了惊人的结果。 ...

Core Viewpoint - The recent outbreak of Nipah virus in West Bengal, India, has led to significant market reactions, particularly in vaccine and diagnostic testing sectors, but the initial enthusiasm has waned as the actual impact on China appears minimal [2][5][26]. Group 1: Nipah Virus Overview - Nipah virus is not new; it was first identified in 1998 in Malaysia and has since been reported in several countries, including India and Bangladesh [7]. - The virus is primarily carried by fruit bats and can be transmitted to humans through contaminated food or direct contact with infected animals, with a high fatality rate exceeding 40% [7]. - The World Health Organization (WHO) classifies Nipah virus as a high-priority pathogen due to its severe health risks and lack of effective treatments or vaccines [7][8]. Group 2: Market Reactions - Following the outbreak news, A-share markets saw significant movements in vaccine and diagnostic testing stocks, with several companies experiencing price surges [3][4]. - However, as the Chinese health authorities confirmed no cases of Nipah virus within the country, the related stocks experienced substantial corrections [5][11]. Group 3: Industry Performance - The medical testing industry, which had thrived during the COVID-19 pandemic, is now facing significant performance pressures as demand for testing declines [15]. - Companies like Da An Gene, Saint Shine, and others that previously reported strong earnings are now forecasting losses for 2025, indicating ongoing financial strain [16][18]. - The vaccine sector is also under pressure, with many companies reporting losses and declining revenues due to intense competition and market saturation [19][20]. Group 4: Company-Specific Insights - Companies such as Cap Bio and Zhi Jiang Bio, which have developed Nipah virus testing products, have not reported significant new orders, suggesting limited market impact from the outbreak [18]. - The vaccine market is characterized by fierce competition, with companies like Zhifei Biological and Watson Bio facing challenges in maintaining profitability amid price wars and declining demand for core products [21][24]. - The overall sentiment in the market indicates that while the Nipah virus has raised awareness, it is unlikely to provide a sustainable boost to the financial performance of the medical testing and vaccine sectors [26].

出品 | 妙投APP 作者 | 段明珠 编辑 | 丁萍 头图 | 视觉中国 本周大A连续3天非典型暴力洗盘，指数走得看似很稳，但个股跌得稀里哗啦。 是因为大资金在"出逃"吗？ 近7个交易日，几乎每天都有约800亿的资金从各个宽基ETF中流出，总计流出额已达到5000亿左右；且时不时出现权重 股尾盘被巨额压单，前有中信证券的14.5亿压单，后有招商银行尾盘压单超65亿，1月26日紫金矿业尾盘压单超40.7亿 元，连一直跌跌不休的贵州茅台也难逃被压单的命运。 以下文章来源于妙投APP ，作者段明珠 妙投APP . 虎嗅旗下二级市场投研服务品牌，为您提供精选上市公司价值拆解，热门赛道产业链梳理 和去年4月7日汇金大举入市托底一样，大资金此次卖出应是希望市场看到。 为何要选择这个时点卖出？资本市场会怎么走？普通投资者又应该怎么办？ 为何选择这个时点？ 首先，大家心知肚明的是，大资金这样做是为了 给市场降温 。 到1月12日，大盘难得走出"17连阳"，不仅时隔10年重新站上4100点大关，还刷新上证指数历史连续阳线纪录；量能连 续多日超过3万亿元，多只股票单日成交额超过100亿元，更别提热门题材中赚钱效应好到爆炸。 如 ...

大家早上好！这里是今天的早报，每天早上，我都会在这里跟你聊聊昨夜今晨发生了哪些大事儿。 昨夜今晨 【美联储宣布维持基准利率不变】 当地时间1月28日，美联储最新的联邦公开市场委员会（FOMC）货币政策会议纪要显示，美联储决定将联邦 基金利率目标区间继续维持在3.5%至3.75%之间。 会议纪要显示，现有指标表明，就业增长仍处于低位，失业率已显现出趋于稳定的迹象。通胀水平仍处于较高 水平。委员会致力于实现最大就业和长期通胀率达到2%的目标。经济前景的不确定性仍然很高。委员会密切 关注其双重使命面临的风险。为支持其目标，美联储决定将联邦基金利率目标区间继续维持在3.5%至3.75%之 间。 具体表决细节显示，美联储以10票赞成、2票反对的结果，决定将基准利率维持在3.5%至3.75%区间。美联储 理事沃勒以及米兰投下反对票，主张降息25个基点。 在此次利率政策出台前，市场普遍预期美联储将在本周政策会议上维持利率不变，此前该机构已在2025下半年 连续三次降息。 【微软、特斯拉、META公布最新"成绩单"】 微软公司第二财季营收812.7亿美元，预估803.1亿美元；第二季度智能云业务营收329.1亿美元，预估32 ...

Core Viewpoint - The Chinese rice fast food sector is undergoing a significant paradigm shift in 2026, characterized by intense competition among leading brands and the entry of cross-industry players, leading to a consensus that profitability is increasingly difficult to achieve [4][6]. Group 1: Industry Challenges - The primary challenge for Chinese rice fast food brands remains profitability, with industry leaders like Chaoyixing reporting a mere profit of 0.7 yuan per 10 yuan meal [7]. - Rising costs for ingredients, labor, and rent, combined with a return to rational consumer spending, are squeezing profit margins, forcing brands to adapt their business models to survive [8][9]. - The average consumer spending in the rice fast food sector has decreased from 29.7 yuan in 2022 to 27.5 yuan in 2025, indicating a downward trend in pricing [15]. Group 2: Business Model Transformation - Brands are focusing on creating "all-day, all-customer, all-capable" stores to attract a wider customer base and improve profitability [5][10]. - Successful adaptations include diversifying product offerings and enhancing customer experience, as seen with brands like Nanchengxiang and Xiaonv Dangjia, which have introduced new menu items and self-service options [10][11]. - The shift towards a "price down, experience up" strategy is evident, with brands like Xiangcunji and Dami Xiansheng emphasizing fresh, high-quality ingredients while maintaining competitive pricing [18][19]. Group 3: Market Expansion and Competition - The market for Chinese rice fast food is projected to reach 277 billion yuan in 2024, with a potential to exceed 300 billion yuan in 2025, indicating a growing demand for this segment [21]. - Leading brands are rapidly expanding into new regions, with Nanchengxiang opening a new store every 0.85 days on average, while others like Mivun Banfan have paused their aggressive expansion due to operational challenges [23][25]. - The competitive landscape is shifting, with brands needing to adapt their models to local markets rather than relying on a one-size-fits-all approach, as evidenced by the struggles of brands like Chaoyixing and Nanchengxiang in new territories [25][26]. Group 4: Future Outlook - The next decade for Chinese rice fast food will involve a multi-faceted competition focusing on freshness, transparency, intelligence, low pricing, and health [27]. - Brands that can balance cost management with quality and customer experience will be better positioned to thrive in a market where consumer expectations are evolving [28][29].

以下文章来源于洒家君泽 ，作者洒家君泽 2026 年初的一个凌晨，田飞按下了公众号"IDL 创新设计实验室"的发布按钮。 四篇文章，记录了微信正在进行的四个功能灰度更新： 田飞把这些文章转发到朋友圈。没多久，留言开始涌进来。有朋友问"微信终于把这个做出来了""我 怎么还没收到更新？""到底什么时候上线？" 他有点不好意思，又有点得意。 洒家君泽 . 关于改变你我生活的商业与科技 本文来自微信公众号： 洒家君泽 ，作者：洒家君泽，头图来自：受访者供图 不好意思是因为，这些所谓的新功能确实存在，但它们并非来自"官方"；得意则不仅在于这些新功能 都是他的学生设计的，还因为一个在心里放了很多年的想法，终于部分实现了。 "清理白名单"让用户可以一键删除白名单以外的其它聊天记录，快速释放存储空间，避免误删重 要内容； "微信口袋"把散落在微信里的各种文章、链接、重要信息装进统一空间，状态保留，随取随用； "固顶转发"将最常转发的联系人和群聊置顶在转发界面，还支持一键同时转发给多个对象，避免 转错人的尴尬； 朋友圈加入了"预览编辑"功能，发布前可以预览文字的展现效果，还能修改图片次序、大小，调 整好后一键发布，无缝衔接。 ...

以下文章来源于商业弧光 ，作者柳柳 商业弧光 . 听风者，捕光人，最准点的商业节拍 互为解药？一场充满不确定 性的突围。 出品｜虎嗅商业消费组 作者｜柳柳 编辑｜苗正卿 题图｜视觉中国 主品牌安踏增长放缓，始祖鸟"烟花事件"引发信任危机，中产消费降级与全球化扩张的多重挑战之下，安 踏低调出招，宣布投资彪马。 1月27日，安踏体育在港交所发布公告称，其与法国开云集团（Kering）旗下Pinault（皮诺）家族的投资公 司Groupe Artémis 达成购股协议，收购运动品牌PUMA（彪马）所属公司PUMA SE 29.06%的股权。现金 对价为15亿欧元，折合人民币约122.78亿元。 交易完成后，安踏体育将成为彪马最大股东，但不会触发全面要约收购。据悉，本次交易预计有望于2026 年底前完成，但仍需要得到相关监管部门批准及满足惯例交割条件。此次股权收购资金全部来源于安踏集 团的内部自有现金储备。 德国巴登-符腾堡州银行（LBBW）分析师Thomas Hofmann在一份研究报告中表示，中国公司安踏预计未 来将继续增持彪马的股份，因为这家德国公司很好地契合了该运动服装公司的全球化战略。不过，销售额 的大幅下 ...

Core Viewpoint - The article discusses the strategic positioning of the company "月之暗面" (Moon's Dark Side) in the competitive landscape of AI models, particularly in light of the upcoming release of DeepSeek's new model. The release of K2.5 is seen as a defensive move rather than an offensive one, aimed at stabilizing the company's position before potential disruptions from competitors [5][9]. Group 1: K2.5 Model Release - The K2.5 model was released on January 27, 2026, with founder 杨植麟 (Yang Zhilin) personally promoting it, which is unusual in the industry and signals a strategic shift [5][7]. - K2.5 is viewed as an upgrade rather than a groundbreaking model, focusing on enhancing coding capabilities and the Agent system, especially for overseas markets [11][12]. - The release is interpreted as a necessary step to maintain relevance and presence in the market, especially before DeepSeek's anticipated new model launch [8][14]. Group 2: Industry Context and Competition - The AI model industry is undergoing a significant reshuffle, with several companies transitioning away from being solely "base model" providers, leaving 月之暗面 as one of the few remaining in this category [16][17]. - The narrative in the industry is shifting from "who can create the strongest model" to "who can effectively utilize the model," indicating a higher risk for companies that continue to focus solely on base models [18][22]. - 月之暗面 is attempting to pivot towards coding and Agent capabilities, but it still heavily relies on model performance for revenue, particularly from overseas markets [21][22]. Group 3: Strategic Concerns and Anxiety - The company faces anxiety regarding its dependency on model capabilities, especially with competitors like DeepSeek potentially outpacing it in model advancements [23][24]. - The transition to focusing on coding and Agent systems presents long validation cycles, making it challenging for 月之暗面 to demonstrate its strategic shift compared to competitors who can quickly showcase model improvements [25]. - The memory of the impact from DeepSeek's previous model release in 2025 creates pressure for 月之暗面 to avoid being caught off guard again, prompting the early release of K2.5 as a preemptive measure [26][27].

Core Viewpoint - The article discusses the rising popularity of Moltbot, an AI application that has gained significant attention in Silicon Valley, being described as a revolutionary tool that can perform various tasks through popular messaging apps [4][6]. Group 1: Moltbot Overview - Moltbot, previously known as Clawdbot, has seen its GitHub stars exceed 60,000 and collections over 7,200, indicating strong community interest and engagement [4]. - The project was renamed to avoid confusion with Anthropic's Claude AI, with the creator describing the change as a "natural evolution" [6]. - Moltbot is designed to execute commands sent through messaging apps like Telegram and WhatsApp, converting user requests into local Shell scripts for execution [8]. Group 2: Capabilities and Use Cases - The capabilities of Moltbot include managing emails, scheduling, and even stock trading, showcasing its versatility [8]. - Users have reported various applications, such as one user employing Moltbot for stock trading, generating numerous strategies and reports, despite ultimately losing the invested funds [8]. - Another user successfully utilized Moltbot to create a dynamic avatar on their Mac mini, demonstrating its creative potential [10]. Group 3: Unique Features - Moltbot boasts long-term memory capabilities, allowing it to remember past interactions and user preferences, which is a significant advantage over traditional chatbots [14]. - It can proactively remind users of upcoming events and tasks, functioning like a diligent assistant [14]. - The application runs in the background, enabling it to perform tasks while users engage in other activities, further enhancing its utility [14]. Group 4: Security Concerns - Despite its advantages, users have raised concerns about security vulnerabilities, as Moltbot has high system permissions and access to local data, potentially making it a target for hackers [14][15]. - Instances of users inadvertently exposing sensitive information, such as API keys, have been reported, highlighting the risks associated with its deployment [15]. - The developer acknowledged the inherent risks of running an AI with Shell terminal access, emphasizing that there is no "absolute security" in such deployments [15].